Oilfield services company,
Oceaneering International, Inc.
) has purchased AIRSIS Inc., a provider of remote asset management
software services. The financial terms of the transaction have not
been disclosed by either party.
The latest buy is likely to boost Oceaneering's current asset
tracking service offered on offshore drilling rigs and vessels
employed in subsea activities. Asset tracking information is used
by customers to get a common operating picture. The latter enhances
operational efficiency, along with facilitating incident and
emergency response collaboration and reporting.
The data gathered through asset tracking also aids in assembling
and exhibiting real-time data related to an offshore operation,
comprising rig or vessel position, metocean conditions, remotely
operated vehicle video and subsea survey information.
The operating environment appears to be favorable for Oceaneering
and boost its growth prospects, as reflected in the strong
first-quarter 2014 results. In fact, the company has delivered
positive earnings surprises in all of the last four quarters with
an average beat of 4.46%. Moreover, the 2014 expected earnings
growth rate for this stock is an impressive 18.4%.
A global oilfield provider of engineered services and products,
mainly to the offshore oil and gas industry, Oceaneering's main
focus remains on deepwater applications. The company also provides
supplies to the defense, entertainment and aerospace industries,
and uses its advanced applied technology expertise for the same.
Currently, Oceaneering carries a Zacks Rank #3 (Hold). Investors
interested in the oil and gas industry could consider stocks like
CVR Refining LP
Matrix Service Co.
). All of these stocks sport a Zacks Rank #1 (Strong Buy).
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